DHL to solidify Asian presence with $150 million investment in Atlas Air Worldwide

Atlas Air Worldwide Holdings has reached agreement to sell a 49% equity interest and a 25% voting interest in its Polar Air Cargo subsidiary to DHL for $150 million cash, the companies announced yesterday.
AAWW said the deal includes a 20-year blocked-space arrangement with potential revenues of $3.5 billion that "will ensure DHL access to aircraft capacity in key global markets while providing the AAWW companies with a valuable, long-term customer."
DHL, which said it was especially ...